Prothena (NASDAQ:PRTA) Shares Down 5%

Shares of Prothena Co. plc (NASDAQ:PRTA) fell 5% during trading on Wednesday . The company traded as low as $20.93 and last traded at $20.93. 80,973 shares traded hands during trading, a decline of 86% from the average session volume of 580,166 shares. The stock had previously closed at $22.02.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Prothena from $28.00 to $24.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Oppenheimer dropped their price target on Prothena from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Prothena in a research note on Monday, August 12th. Finally, StockNews.com upgraded Prothena from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Prothena has an average rating of “Moderate Buy” and a consensus target price of $62.86.

Prothena Trading Down 0.4 %

The company has a market capitalization of $1.08 billion, a PE ratio of -6.20 and a beta of 0.18. The business’s fifty day moving average is $21.59 and its two-hundred day moving average is $22.04.

Prothena (NASDAQ:PRTA) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $2.23. Prothena had a negative return on equity of 9.00% and a negative net margin of 23.44%. The firm had revenue of $132.01 million during the quarter, compared to analysts’ expectations of $10.73 million. During the same quarter in the previous year, the business earned ($1.03) earnings per share. The company’s revenue was up 3184.7% on a year-over-year basis. As a group, equities research analysts anticipate that Prothena Co. plc will post -2.31 EPS for the current year.

Institutional Trading of Prothena

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in Prothena by 182.1% during the second quarter. Signaturefd LLC now owns 1,337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 863 shares during the period. PNC Financial Services Group Inc. raised its stake in Prothena by 265.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,544 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 1,122 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Prothena during the 1st quarter valued at $96,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Prothena by 13.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,236 shares of the biotechnology company’s stock worth $211,000 after buying an additional 1,186 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Prothena in the fourth quarter worth $222,000. Hedge funds and other institutional investors own 97.08% of the company’s stock.

Prothena Company Profile

Prothena Corporation plc, a late-stage clinical biotechnology company, focuses on discovery and development of novel therapies to treat diseases caused by protein dysregulation in the United States. The company is involved in developing birtamimab, an investigational humanized antibody that is in Phase III clinical trial for the treatment of AL amyloidosis; Prasinezumab, a humanized monoclonal antibody, for the treatment of Parkinson's disease and other related synucleinopathies which is in Phase IIb clinical trial; NNC6019 that is in Phase lI clinical trial for the treatment of ATTR amyloidosis; and BMS-986446 and PRX012, which is in Phase I clinical trial for the treatment of Alzheimer's disease.